You never know where a shareprice is going to go, but it is nice to see the stated intention of all directors and major shareholders in taking up their full rights to buy. Not to mention the two new directors experience in oil/gas and taxation are strong additions to ACE.
The rights issue appears in fact less dilutive than many other more speculative companies issues, and is at a juncture for ACE that will involve actual revenue being gained from this working capital.
I read in the SMH the other day that a HC user was pursued for defamation of a director of another company. Well pursue me for this, from the mouth of Graham Keys I have never heard one lie or felt mislead in any way. When things were hard, he said they were. When sales where expected from Thailand and India, they came. When problems arose with some in China, we were told. For the last few years (that I have followed), the ACE board has told it like it is, never under nor over hyping anything. When the board says it expects sales forthcoming, they have given me no reason to doubt them. Just like if they said they didnt expect any, I would believe them and be out....
ACE Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
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